Related Articles
Report
Forward article link
Share PDF with colleagues

Baghdad blurs the picture

Iraq wants the deal to work. But that may not translate into an actual drop in supply

Iraq's oil minister Jabar al-Luaibi says his country's oil production was trimmed by 160,000 barrels a day at the start of January and that the reduction would reach the required Opec level of 210,000 b/d by the end of the month. The minister reckons general compliance by Opec and non-Opec states will have an accumulative effect, saying Iraq is "hoping for a better price. We are looking at $65/b, something like that." According to Opec, Iraq's baseline production level - against which it was to make its cuts - was 4.56m b/d, meaning that the January output figure should be 4.35m b/d. The problem, however, with the whole issue of Iraqi oil data is that it has become, to put it mildly, someth

Also in this section
Opec starts to ease cuts
22 June 2018
The group is seeking to return compliance to 100%, implying a sharp immediate rise in output. But the details are vague
Opec's risky metamorphosis
22 June 2018
The urge to create a bigger producer group based on the Declaration of Cooperation is changing Opec's power politics
Trump's spectre looms over tense Opec meeting
19 June 2018
Russia and Saudi Arabia plan to raise supply. The move will please the US but make for a rocky summit this week